January 29, 2003 

Daily Bankruptcy News

Brought to you by BKINFORMATION.COM - The Source for Business Bankruptcy Information on the Internet 

Also available on the Web (with links to the news stories)  at: http://bkinformation.com/News/DailyNews.htm

Prior editions available at http://bkinformation.com/bankruptcy_news.htm

         
Polaroid:

Questions mount in Chapter 11 case of former Polaroid
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Former Polaroid Seeks More Time For Reorganization Plan
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Malden Mills strikes deal with creditors
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Formica suitors include ex-chairman
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Dice plans to file bankruptcy, go private
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Enron:

Recent measures hint at strength of Portland's bid for utility
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Lays among investors suing U.S. in tax case
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Memo writer is dismissed as defendant - But 13 other officials at Andersen still in suit
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5 Ex-Andersen Execs Won't Face Enron Shareholder Suit
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Tenet plans to ease up on uninsured patients / Hospitals to cut prices, stop suing jobless
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Hockey:

Bryden awaits decision on Senators bid
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Bryden's bid to regain Senators drags on
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Bryden bid encounters skepticism
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Buzzards official running out of patience
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Talks on Senators sale to Bryden go four days past deadline
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Trustee to get federal post
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Bush heeds the lesson from his father - even in wartime, it's the economy, stupid
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FW Industries Expects To Complete Debt Restructuring In April
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Corporate Reform:

Sarbanes-Oxley law exposes the divisions at Davos
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The SEC's Retreat From Corporate Reform
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Steel:

Bethlehem Steel's creditors seek voice
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Tariffs help US Steel return profit of $12m
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Hospitals Demand Astronomical Sums from Uninsured, Offer Discounts to Insurers
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Monte Carlo modeling reduces the gamble when it comes time for CFOs to set loss reserves for a company's pending litigation
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Donaldson confirmation hearing set
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Hearing To Terminate Peregrine Exclusivity Continued
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FAO Seeks Court Approval For $2M Employee Retention Plan
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Magellan Health's finances watched
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Bid placed for Great Northern
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  Airlines:

UAL sharing plan this week with creditors, unions, board
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Express carriers push UAL to act on contracts
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UAL seeks more time to find lenders
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United Airlines might add low-cost carrier / Managers begin briefing creditors on plan to restructure
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Delta to Launch Low-Cost Carrier for Northeast, Florida
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Come Fly With John McCain
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If Nothing Changes, American May Be on United's Flight Path
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Tax Fraudster gets Jail Time For Bankruptcy Fraud
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Kmart:

Kodak objects to Kmart motion to resume photofinishing
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Kmart's Reorganization Plan Is Grounded In Optimism
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Court sold on closings
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Kmart: Store Closings to Cost $300 Million
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Fired execs may get severance -- if they return their executive loans
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Kmart's fall is tale of poor governance
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Woman Collects 2500 Signatures In Fight For Kmart
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ReturnBuy files for bankruptcy
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Telecoms:

NextWave: "The Law is an Ass"?
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NextWave prevails on licenses
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A Win for NextWave?
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NextWave's win may become loss
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FCC plan for Baby Bells' access charges provokes debate
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WorldCom Inquiry's Brevity May Limit Its Effectiveness
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Asia Global Crossing clears hurdle
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WorldCom gets another extension to file data with court
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Judge approves Spectrasite Holdings plan
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Accounting:

KPMG denies Swissair bungle
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US and Swiss agree to tax exchange
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Farmland:

Judge removes hurdle to potential sale of Farmland's beef, pork business
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Farmland retirees testify about life insurance policies
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New Bankruptcy Opinions
(1 new opinion today)

Bankruptcy Jobs - 784 Jobs - Last Updated December 10, 2002
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Bankruptcy Court Web/Pacer Site Directory

Weird News
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Globalstar rescue plan challenged
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Adelphia:

Adelphia Looking West With H.Q. Move
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Adelphia Business Solutions to sell some assets
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Founder bitter about Adelphia departure
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Coram Healthcare US Trustee seeks court OK to retain CEO
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Law Firms:

Firm's Woes Leave Partner With Hefty Tax Bill
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Brobeck Practice Leader Defects
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Boies Firm Launches Satellite
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MoFo Names New Head of Litigation
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Firm's Discovery Abuse Leads to Win for Opponent
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OMelveny & Myers Signs Times Square Lease
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Union Acceptance OKs Proposal On Service-Transfer Deal
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Medinex Systems Gets Final Approval Of DIP Financing
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Federal-Mogul Fights Creditors Bid To File Reorganization
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Tough Road Ahead for Pittsburgh Symphony
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England:

Don't sit and hope, businesses warned
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British Energy investors set to seek more aid
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UK life insurers on verge of bankruptcy
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Canada:

Pool's fate awaits vote
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Australia:

$100,000 for HIH chief
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Abbott pays back his fees, admits nothing
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India:

Banks prepare for the kill, shoot off letters to defaulters to repay debt
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Ireland:

2,500 claims made against failed broker
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Japan:

Bank-debt inspection set for February
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